Posts Tagged ‘Quotes’

China Sovereign Wealth Fund Chairman with Quote of the Year, 2009

True, 2009′s not over but Trader Mark is pretty confident his top pick won’t be outdone.

China Sovereign Wealth Fund Chairman with Quote of the Year, 2009

Courtesy of Trader Mark at Fund My Mutual Fund

Every year we try to find a quote of the year – frankly with the way the world has been going picking one each year is impossible. And it is hard to pick between people saying incredulous things because they actually believe it or quotes based in fact but completely amazing in their utterance.

In 2007, there were a few great candidates in retrospect – Hank Paulson saying

I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.

probably is the most infamous.

I don’t have a great memory for these type of things like those who can pull out movie quotes from a movie seen 5 years ago, but in the past few weeks we were reminded of Ben Bernanke’s famous utterance at Jackson Hole Wyoming in late summer 2007

it is not the responsibility of the Federal Reserve - nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions

I know! Knee slapping humor! Can you believe people take this guy at his word? haha

I personally loved this one because the pure arrogance of the Anglo Saxon model is exposed – because only if you let bankers run wild, will they bring you innovations that create “prosperity for all. (translated: prosperity for them) If you somehow limit their compensation or actions, they will move to a country that will not! And then your economy will suffer the consequences of their moving. Just imagine how thankful Americans would be (and less debt our grandchildren would have) if the the small sliver of financial innovators had fled the country in 2004 due to “unfair” wage schemes they were not allowed to have according to the “free market” (free market defined as London and New York) My gosh they might have had to destroy Dubai instead of us.

Emerging markets are being favored in part because “financial innovations are less common in developing countries,” said Heidemarie Wieczorek-Zeul, German economics


continue reading


Tags: , , , , , , , ,




Key Quotes from Biden on the Stimulus

For a free subscription to Phil’s Stock World, click here (easy, no credit card required)

Key Quotes from Biden on the Stimulus

Courtesy of TIME, Mark Halperin

From NBC’s "Meet the Press":

"No one realized how bad the economy was. The projections, in fact, turned out to be worse. But we took the mainstream model as to what we thought — and everyone else thought — the unemployment rate would be."

"Everyone guessed wrong at the time the estimate was made about what the state of the economy was at the moment this was passed."

"The bottom line is that jobs are being created that would not have been there before."

"Can I claim credit that all of that’s due to the recovery package? No. But it clearly has had an impact."

Photo: Getty, courtesy of TIME

 


Tags: , , ,




 
 
 

Zero Hedge

Massive Sell Program Slams S&P500 Below 3300

Courtesy of ZeroHedge View original post here.

Just as were bringing readers a warning from BMO technician Russ Visch that a drop below 3,310 in the S&P would breach the mid-September support and open a door for a retest of 3,233...

... a massive selling program hit at exactly 1:30pm, which sent the NYSE TICK index (number of securities trading on an uptick less trading on a downtick) to session lows of -1,713...

...



more from Tyler

Phil's Favorites

What if he doesn't leave?

 

What if he doesn’t leave?

Courtesy of 

If Donald Trump loses the election – by any margin – does anyone see him actually conceding? Me neither. Biden may not be so fast to concede either, especially given the nature of a pandemic at the polls. The (mostly made up) controversy about mail-in ballots is sure to make this an election to remember. Contested elections have been rare in recent history, but not unheard of. How might the market react, before, during and after?

Listen to the new episode of my ...



more from Ilene

Politics

What if he doesn't leave?

 

What if he doesn’t leave?

Courtesy of 

If Donald Trump loses the election – by any margin – does anyone see him actually conceding? Me neither. Biden may not be so fast to concede either, especially given the nature of a pandemic at the polls. The (mostly made up) controversy about mail-in ballots is sure to make this an election to remember. Contested elections have been rare in recent history, but not unheard of. How might the market react, before, during and after?

Listen to the new episode of my ...



more from Politics

ValueWalk

S&P 500 (INDEXSP: .INX) in the red for a third straight day

By Jacob Wolinsky. Originally published at ValueWalk.

September 18, 2020 Update: The S&P 500 (INDEXSP: .INX) declined for a third consecutive day amid fears about the economic recovery in the U.S. and a new global surge in coronavirus infections. Today is also a “quadruple witching” day, which doesn’t help matters any. There is one such day every quarter when volatility is increased due to the expiration of futures and options on indexes and equities.

The S&P has been trading lower since Wednesday when the Federal Reserve signaled it would hold interest rates near zero for years as the economy continues to reel from the pandemic. Stocks were also pressured as the prospects of further stimulus from Congress grow even dimmer.

S&P 500 (INDEXSP: .INX) continues to hover close to record

August 17, 2020 Update: The S&P 500...



more from ValueWalk

Kimble Charting Solutions

Gold Breakout Triggers Buy Signal, Is $3000 Next Target?

Courtesy of Chris Kimble

90-days ago this cup & handle pattern was discussed on See It Market when Gold was trading at 1717.

Fast-forward to today and Gold is up 15 percent. So it’s time for an update!

As we pointed out 90-days ago, the initial price magnet for the rally was the 261.8 Fibonacci extension that marked the 2011 high at (1).

That high has served as price resistance for nearly 9 years! …But it may be ...



more from Kimble C.S.

Biotech/COVID-19

Smoke from wildfires can worsen COVID-19 risk, putting firefighters in even more danger

 

Smoke from wildfires can worsen COVID-19 risk, putting firefighters in even more danger

Firefighters have battled camp crud before, but COVID-19 brings new risks with the potential for heart and lung damage. Robyn Beck/AFP/Getty Images

By Luke Montrose, Boise State University

Two forces of nature are colliding in the western United States, and wildland firefighters are caught in the middle.

Emerging research suggests that ...



more from Biotech/COVID-19

Chart School

Gold Gann Angle Update

Courtesy of Read the Ticker

Golds bullish trend has worked well in 2020, so what is next over the immediate 3 to 6 months? Will we continue to see a golden future.

The US dollar had been strong into COVID 19, since then the FED has printing a lot of money, and they are also considering YCC (Yield Curve Control), last seen during WW2. [Note YCC lasted 9 years over WW2. WOW, that is a lot of money printing.]

The FED is now forecast to over take competing central banks balance sheets in size, and the release valve will be a falling US dollar. Therefore we should continue to see the US dollar maintain is slow leak down over the next 3 to 6 month, say on the DXY 82 to 88. 

Also, US election worries will add to the weakening of the dollar. Of course extreme chaos in W...

more from Chart School

Digital Currencies

Cryptocurrencies Rarely Used To Launder Money, Fiat Preferred

Courtesy of ZeroHedge View original post here.

Authored by Shaurya Malwa via Decrypt.io,

Traditional channels continue to dominate the estimated $2 trillion global money laundering racket instead of cryptocurrencies, a report says.

In brief
  • Money laundering via cryptocurrencies is not a preferred tool for criminals, a report said...



more from Bitcoin

The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



more from Tech. Traders

Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



more from Lee

Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

http://www.insidercow.com/ more from Insider

Promotions

Free, Live Webinar on Stocks, Options and Trading Strategies

TODAY's LIVE webinar on stocks, options and trading strategy is open to all!

Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

...

more from Promotions

Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

more from M.T.M.





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.